The ratings on Banque Cantonale Vaudoise (BCV) continue to reflect the bank's overall stable financial performance, as characterized by a generally well-diversified revenue stream and good cost control. These elements have contributed to sustained growth in earnings despite continued provisioning efforts against residual, long-dated nonperforming assets. Given the weight of provisions posted over the past decade, the recently announced decision to substantially increase the charge against credit risks will further enhance BCV's bottom-line profitability, while also achieving the bank's aim of improving its asset quality. With Swiss franc (SFr) 38 billion (The ratings on Banque Cantonale Vaudoise (BCV) continue to reflect the bank's overall stable financial performance, as characterized by a generally well-diversified revenue stream and good cost control. These elements have contributed to sustained growth in earnings despite continued provisioning efforts against residual, long-dated nonperforming assets. Given the weight of provisions posted over the past decade, the recently announced decision to substantially increase the charge against credit risks will further enhance BCV's bottom-line profitability, while also achieving the bank's aim of improving its asset quality. With Swiss franc (SFr) 38 billion (€25.7 billion) in total consolidated assets at Sept. 30, 2001, BCV is the second-largest cantonal bank in Switzerland. As is typical for cantonal banks, the bank's business profile is
